Ownership costs are the costs to purchase and operate a vehicle over a period of time. Understanding these costs may enable you to save money and help you make a wiser decision when choosing your next new car.

Regardless of the “value” claims that you may read in car reviews or hear in advertisements, the economic value of a car is based on how much it will cost to own and operate compared to its purchase price. In a sense, purchase price is “what you pay” and the ownership costs are “what you get.”

Ownership costs can differ greatly. The cost to own and operate two different vehicles with equal purchase prices can differ by thousands. Of course when evaluating ownership cost for used cars and trucks, a vehicle's condition and mileage will greatly impact ownership costs, therefore it's important to compare similar vehicles in similar condition for an accurate picture.

Basic Warranty: The basic warranty covers everything except items that are subject to wear and tear or replacement in the ordinary course of vehicle ownership, such as oil and air filters, wiper blades and brake pads. Tires and batteries are often excluded, but usually have their own warranty provided by the manufacturers of those items. Emissions equipment is required by Federal law to be covered for five years or 50,000 miles.

Drive Train Warranty: In some cases the drive train warranty continues after the basic warranty has expired. This part of the warranty covers most of the parts that make the vehicle move, including the engine, transmission, drive axles and driveshaft. Like the basic warranty, consumable parts such as hoses and belts are not covered. However, most of the internal parts of the engine, such as the pistons and bearings, which are also subject to wear and tear, are covered by the drive train warranty.

Roadside Assistance: Many manufacturers provide a service that will rescue you if your car leaves you stranded, even if it's your fault. Lock yourself our of your car? Run out of gas? Got a flat tire? A call to the manufacturer's toll-free number will result in somebody showing up who can help you out. There is a huge variance in these programs so check ahead of time to see what is covered and what you will have to pay for.

Rust or Corrosion Warranty: Rust or Corrosion Warranty: This warranty covers the vehicle's sheet metal, and protects you from rust and corrosion that are severe enough to cause a hole - surface rust is not covered. However, if you keep your car washed and waxed rust shouldn't be a problem.

Headlamps that do not illuminate reduce the driver's ability to see the roadway and reduce the vehicle's visibility to oncoming vehicles, both of which increase the risk of a vehicle crash.

Remedy:

The remedy for this recall is still under development. The manufacturer has not yet provided a notification schedule. Owners may contact GM customer service at 1-800-521-7300 (Buick), 1-800-222-1020 (Chevrolet), 1-800-462-8782 (GMC), 1-800-955-9007 (Saab). GM's number for this recall is 14291.

General Motors LLC (GM) is recalling certain model year 2005-2007 SAAB 9-7x; 2006 Chevrolet Trailblazer EXT and GMC Envoy XL; and 2006-2007 Chevrolet Trailblazer, GMC Envoy, Buick Rainier and Isuzu Ascender vehicles. Fluid may enter the driver's door master power window switch module, causing corrosion that could result in a short in the circuit board. A short may cause the power door lock and power window switches to function intermittently or become inoperative. The short may also cause overheating, which could melt components of the door module, producing odor, smoke, or a fire.

Consequences:

A short in the circuit board could lead to a fire, increasing the risk of personal injury. A fire could occur even while the vehicle is not in use. As a precaution, owners are advised to park outside until the remedy has been made.

Remedy:

GM will notify owners, and dealers will inspect the part number on the door module, and install a new door module if necessary, free of charge. Parts for the remedy are not currently available. An interim letter was mailed to owners in August 2014. A second owner letter will be mailed when parts are available. Owners may contact GM customer service at 1-800-521-7300 (Buick), 1-800-222-1020 (Chevrolet), 1-800-462-8782 (GMC), 1-800-955-9007 (SAAB), and 1-800-255-6727 (Isuzu). GM's number for this recall is 14309. NOTE: This recall provides a new remedy for all vehicles covered by recall 13V-248. Vehicles whose modules were modified but not replaced as part of the previous recall remedy must have their vehicles remedied again under this campaign.

CERTAIN PASSENGER VEHICLES MAY HAVE BEEN BUILT WITH A POWER STEERING HOSE THAT IS NOT TO SPECIFICATION. UNDER EXTREME STEERING MANEUVERS, SUCH AS TURNING THE STEERING WHEEL FULLY TO THE LEFT OR RIGHT WHILE BRAKING, THE HOSE MAY FRACTURE AND LEAK FLUID.

Consequences:

IF THIS WERE TO OCCUR, POWER STEERING ASSIST WOULD BE LOST AND INCREASED STEERING EFFORT WOULD BE REQUIRED. ON VEHICLES EQUIPPED WITH HYDRO-BOOST POWER BRAKES, IT COULD ALSO RESULT IN LOSS OF POWER BRAKE ASSIST AND INCREASED BRAKING EFFORT WOULD BE REQUIRED. IF THE POWER STEERING FLUID SPRAY WERE TO SPRAY ONTO HOT ENGINE PARTS, AN ENGINE COMPARTMENT FIRE COULD OCCUR.

Remedy:

DEALERS WILL INSPECT THE POWER STEERING HOSE(S) FOR TWO SUSPECT DATE CODES AND REPLACE THEM IF REQUIRED. THE RECALL WILL BEGIN ON OCTOBER 14, 2005. OWNERS MAY CONTACT CHEVROLET AT 1-800-630-2438, GMC AT 1-866-996-9463, BUICK AT 1-866-608-8080, CADILLAC AT 1-866-982-2339, ISUZU AT 1-800-255-6727, OR HUMMER AT 1-800-732-5493.

A MISPRINTED LABEL COULD LEAD TO IMPROPER VEHICLE LOADING SPECIFICATIONS OR TIRE INFLATION WHICH COULD RESULT IN A TIRE FAILURE, INCREASING THE RISK OF A CRASH.

Remedy:

OWNERS WILL BE PROVIDED WITH CORRECTED LABELS AND INSTALLATION INSTRUCTIONS. AT THE CUSTOMER'S OPTION, A DEALER CAN INSTALL THE LABEL FOR THEM. THE RECALL BEGAN ON MARCH 31, 2006. OWNERS MAY CONTACT BUICK AT 1-866-608-8080, CADILLAC AT 1-866-982-2339, CHEVROLET AT 1-800-630-2438, GMC AT 1-866-996-9463, HUMMER AT 1-800-732-5493, PONTIAC AT 1-800-620-7668, SATURN AT 1-800-972-8876, OR ISUZU AT 1-800-255-6727.

General Motors (GM) is recalling certain model year 2006 Chevrolet Trailblazer EXT and GMC Envoy XL and 2006-2007 Chevrolet Trailblazer, GMC Envoy, Buick Rainier, SAAB 9-7x, and Isuzu Ascender vehicles, originally sold or currently registered in Connecticut, Delaware, Illinois, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia, Wisconsin, and the District of Columbia. Fluid may enter the driver's door module, causing corrosion that could result in a short in the circuit board. A short may cause the power door lock and power window switches to function intermittently or become inoperative. The short may also cause overheating, which could melt components of the door module, producing odor, smoke, or a fire.

Consequences:

A short in the circuit board could lead to a fire, increasing the risk of personal injury. A fire could occur even while the vehicle is not in use. As a precaution, owners are advised to park outside until the remedy has been made.

Remedy:

Parts for this recall are expected to available in March 2013. GM will notify Buick, Chevrolet, and GMC owners when parts are available. Buick owners may contact the owner center at 1-800-521-7300, Chevrolet owners at 1-866-694-6546, and GMC owners at 1-866-996-9463. Isuzu owners will be notified by Isuzu Motors when parts are available. Owners may contact Isuzu customer service at 1-800-255-6727. SAAB owners will be notified by SAAB Cars North America when parts are available and for inquiries, owners may call SAAB customer service at 1-855-880-0808.

CERTAIN VEHICLES ORIGINALLY BUILT WITH CLOTH SEATS THAT WERE EQUIPPED WITH AN AUTOMATIC AIR BAG PASSENGER SENSING SYSTEM AND LATER REUPHOLSTERED WITH AFTERMARKET LEATHER SEAT COVER KITS ARE INVOLVED. TESTING HAS INDICATED THAT THE AFTERMARKET LEATHER SEAT COVERS CAN CAUSE THE PASSENGER SENSING SYSTEM TO MALFUNCTION.

Consequences:

IF THE PASSENGER SENSING SYSTEM MALFUNCTIONS, THE FRONT AIR BAG ON THE PASSENGER SIDE MAY BE DISABLED WHEN IT SHOULD BE ENABLED, OR ENABLED WHEN IT SHOULD BE DISABLED. IN EITHER CASE, IN THE EVENT OF A CRASH THAT REQUIRES AIR BAG DEPLOYMENT, A FRONT PASSENGER'S LEVEL OF INJURY MAY BE INCREASED.

Remedy:

BECAUSE A REPLACEMENT LEATHER SEAT COVER THAT IS COMPATIBLE WITH THE PASSENGER SENSING SYSTEM IS NOT AVAILABLE, GENERAL MOTORS (GM) WILL REPURCHASE THESE VEHICLES IN ACCORDANCE WITH THE TERMS STATED IN GM'S LETTER TO OWNERS. THE RECALL BEGAN ON NOVEMBER 6, 2006. OWNERS SHOULD CONTACT GM AT 1-877-477-1022 TO BEGIN THE PROCESS OF REPURCHASING THEIR VEHICLE.